In Arizona it will be possible to pay taxes in bitcoins and other crypto-currencies

13 February 2018, 09:01 | Business

photo GIGAMIR

Text Size:

The Senate of Arizona passed a bill whose purpose is to allow residents of the state to pay taxes in bitcoin and other crypto-currencies. Last month, a group of legislators submitted a bill that, if adopted, would allow taxpayers to use bitcoins or other crypto-currencies to pay "taxes, as well as interest and penalties" to the state revenue department. The department, in turn, will have 24 hours to convert these funds into US dollars. The Senate of the State approved the bill on February 8. After this, the bill was sent to the State House of Representatives for further consideration.

Although it is too early to talk about the successful completion of this initiative, but the adoption of the bill by the Senate is certainly a good sign. The representative of Arizona State, Jeff Wynninger, one of the sponsors of the bill, and the initiator of several related bills, one of which is related to the use of blocking technology, recently told Fox News that the purpose of this tax law change is the popularization of crypto-currencies, scenarios for their use.

Original article: In Arizona it will be possible to pay taxes in bitcoins and other crypto-currencies.